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Weekly Market Recap 1/30/2009

1/29/2009 12:49:00 PM, Posted by APMEX, One Comment

Precious metals were on the rise early in the week as the dollar weakened and crude oil advanced, raising the demand for metals as an alternative investment and inflation hedge. Overall, the precious metal prices trend has been upward despite some short term dips. Most experts agree that this trend could continue for the foreseeable future. A late run in the market on Friday moved precious metals prices to highs unseen in the past few weeks.

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at

Spot Gold prices opened this week at $898.90. The high during the week was on Friday, January 30 at $929.50, while the low for the week occurred on Wednesday, January 28 at $882.00. This week, investors concentrated their purchases on 2009 1 oz Gold American Eagles, 2009 1 oz Gold Maples, 1/10th oz. Gold Maples, 5 gram Pamp Suisse Bars and 2008/2009Gold Krugerrands.

Spot Silver prices opened last week at $11.94. Silver reached a high of $12.75 at the close of the market on Friday, January 30. The low for silver occurred on Thursday, January 29 at $11.63. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 2009 Silver Chinese Pandas, and 2009 Silver “Year of the Ox” Lunar Coins were popular investment vehicles this week.

Spot Platinum prices ended the week at $1000.00 after opening at $961.00. Platinum continues to be difficult to locate as much of the supply has been picked up by savvy investors already. APMEX has 1 oz. Platinum Credit Suisse Bars and 1 gram Platinum Credit Suisse bars ready to ship to investors eager to take advantage of the lowered platinum spot prices! These items will not last long so purchase your platinum today!

Spot Palladium prices opened this week at $195.00, and ended the week up at $200.80. Palladium products continue to be in great demand and very hard to come by. This week the 1 oz. and 10 oz. Pamp Suisse Palladium Bars were hot items. Again, these bars will not last long due to popular demand.

The recent upward price surge in both Gold and Silver spot price has had a very positive impact on both Pre-1933 Gold Coins and in Morgan Silver Dollars. This has translated into higher prices nearly across the board in price movements in Pre-1933 Gold from Very Fine Condition to MS65 and especially in Extremely Fine condition Morgan Silver Dollars. The recent sell-out of the Ultra High Relief $20.00 Gold Coins by the US Mint added additional fuel to the fiery passion for gold! With Gold breaking the $900 level and with Silver crossing the $12 an ounce barrier, there is renewed demand in the precious metals and, subsequently, in numismatic coins.

But not every category is quickly rising. Type coins remain solid at current levels and Proof and Mint sets are seeing many more bidders at the current levels. But selected Commemorative Coins have retreated further in price. With the Long Beach coin show looming on the horizon, prices seem poised to improve!

One Comment

kookster @ February 6, 2009 at 2:03 PM

With all the bailouts going around money will have to be borrowed or printed. This by itself should help to drive the price of metals up.